Common use of Loan Terms Clause in Contracts

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the Lender’s prior written approval or the expiration of this Agreement. The Borrower shall repay the Loan by using all the funds obtained by him from transferring all of the Borrower’s equity in Shanghai Renren Games Technology Development Co., Ltd., a company incorporated under the laws of the People’s Republic of China (“Shanghai Renren”) to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Shanghai Renren is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB 1,000,000 (RMB one million) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 2 contracts

Samples: Loan Agreement (Renren Inc.), Loan Agreement (Renren Inc.)

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Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated years from the execution date when the Borrower actually draws the Loanof this Agreement. The term under this Agreement shall be automatically extended for another successive ten years year periods unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrower hereby confirms that such loan provided by the Lender was used only for the investment in the Shanghai Quan Toodou. Without the Lender’s prior written consent, the Borrower shall not transfer or pledge his equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the for Lender’s prior written approval requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by him the Borrower from transferring all of the entire Borrower’s equity in Shanghai Renren Games Technology Development Co., Ltd., a company incorporated under the laws of the People’s Republic of China (“Shanghai Renren”) Quan Toodou to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such the Borrower’s equity in Shanghai Renren Quan Toodou is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan Loans hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits a crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB 1,000,000 RMB1,000,000 (RMB one million) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business or online audiovisual streaming business under PRC law; or 2.4.5 In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 2 contracts

Samples: Loan Agreement (Youku Tudou Inc.), Loan Agreement (Youku Tudou Inc.)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated years from the execution date when the Borrower actually draws the Loanof this Agreement. The term under this Agreement shall be automatically extended for another successive ten years year periods unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrower hereby confirms that such loan provided by the Lender was used only for the investment in the Beijing 1Verge InfoTech. Without the Lender’s prior written consent, the Borrower shall not transfer or pledge her equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the for Lender’s prior written approval requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by him the Borrower from transferring all of the entire Borrower’s equity in Shanghai Renren Games Technology Development Co., Ltd., a company incorporated under the laws of the People’s Republic of China (“Shanghai Renren”) Beijing 1Verge InfoTech to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such the Borrower’s equity in Shanghai Renren Beijing 1 Verge InfoTech is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan Loans hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits a crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB 1,000,000 RMB1,000,000 (RMB one million) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business or online audiovisual streaming business under PRC law; or 2.4.5 In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Youku Tudou Inc.)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the Lender’s prior written approval or the expiration of this Agreement. The Borrower shall repay the Loan by using all the funds obtained by him from transferring all of the Borrower’s equity in Shanghai Renren Games Automobile Technology Development Co., Ltd.Company Limited (“Renren Automobile”), a company incorporated under the laws of the People’s Republic of China (“Shanghai Renren”) to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Shanghai Renren Automobile is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 2.3 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in case any one of the following occurs: 2.4.1 2.3.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 2.3.2 The Borrower commits crime or is involved in crime; 2.4.3 2.3.3 Any third party claims debt of the Borrower exceeding RMB 1,000,000 10,000,000 (RMB one million10,000,000) which the Borrower is not able to repay; 2.4.4 2.3.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 2.3.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Kaixin Auto Holdings)

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Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the Lender’s 's prior written approval or the expiration of this Agreement. The Borrower shall repay the Loan by using all the funds obtained by him from transferring all of the Borrower’s 's equity in Shanghai Renren Games Automobile Technology Development Co., Ltd.Company Limited (“Renren Automobile”), a company incorporated under the laws of the People’s Republic of China (“Shanghai Renren”) to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Shanghai Renren Automobile is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 2.3 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in case any one of the following occurs: 2.4.1 2.3.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 2.3.2 The Borrower commits crime or is involved in crime; 2.4.3 2.3.3 Any third party claims debt of the Borrower exceeding RMB 1,000,000 10,000,000 (RMB one million10,000,000) which the Borrower is not able to repay; 2.4.4 2.3.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 2.3.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Renren Inc.)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated years from the execution date when the Borrower actually draws the Loanof this Agreement. The term under this Agreement shall be automatically extended for another successive ten years year periods unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrower hereby confirms that such loan provided by the Lender was used only for the investment in the Beijing 1Verge InfoTech. Without the Lender’s prior written consent, the Borrower shall not transfer or pledge his equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the for Lender’s prior written approval requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by him the Borrower from transferring all of the entire Borrower’s equity in Shanghai Renren Games Technology Development Co., Ltd., a company incorporated under the laws of the People’s Republic of China (“Shanghai Renren”) Beijing 1Verge InfoTech to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such the Borrower’s equity in Shanghai Renren Beijing 1 Verge InfoTech is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan Loans hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits a crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB 1,000,000 RMB1,000,000 (RMB one million) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business or online audiovisual streaming business under PRC law; or 2.4.5 In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Youku Tudou Inc.)

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